Related: Sinclair Calls on Viewers for More Content Contributions
Sinclair Broadcast Group Wednesday reported that revenues during the three months ending June 30 rose to $666.5 million, up 20% from the second quarter of 2015.
Sinclair also reported that during second quarter 2016:
Operating income was $129.1 million, an increase of 12.9%, versus operating income of $114.3 million in the prior year period.
Net income attributable to the company was $49.4 million, versus net income of $45.8 million in the prior year period.
Diluted earnings per common share were $0.52 as compared to $0.48 in the prior year period, which includes the previously disclosed one-time FCC settlement of $9.3 million that reduced diluted earnings per share by $0.09.
Not only did we exceed our expectations for our key financial metrics during the second quarter, but we also have made significant progress in expanding distribution and content, Sinclair president and CEO David Smith said in a statement.
Of particular note, he said, was the July launch of Circa, the millennial-oriented video news and entertainment site, which had 7 million video views during its first week.
Sinclair also reported that for the six months ending June 30:
Total revenues increased 17.6% to $1.245 billion from $1.059 billion the first six months of 2015.
Operating income was $215.4 million, an increase of 8.3%, versus operating income of $198.9 million in the prior year period.
Net income attributable to the company was $73.6 million, versus net income of $70.1 million in the prior year period.
Diluted earnings per common share were $0.77 as compared to $0.73 in the prior year period, which includes the previously disclosed one-time FCC settlement of $9.3 million which reduced diluted earnings per share by $0.09.
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Related: Sinclair Calls on Viewers for More Content Contributions
